Argenta Silver has one active project: the El Quevar high-grade silver project in Salta Province, Argentina, anchored by the Yaxtché deposit. This interview with CEO Joaquin Marias covered the project’s acquisition history, share structure and insider ownership, metallurgy and concentrate marketability, exploration upside across the broader land package, financing position, and the near-term catalyst calendar.

TL;DR

Argenta Silver owns 100% of El Quevar, a high-grade silver project with an indicated resource of 45.3 million ounces at 482 grams per tonne, plus about 4 million ounces inferred at 417 grams per tonne. The company is currently running a two-rig, 25,000-metre drill program. Management says it has C$30 million in the treasury, expects to need additional financing around the end of 2026 or early 2027, and is targeting an updated resource estimate of 75 to 100 million ounces in the first half of 2027. Metallurgical test work results covering the whole deposit are expected around September 2026. Two large shareholders, Frank Giustra and Argentine businessman Eduardo Elsztain, together hold over 20% of the company.

What have they done for shareholders lately?

Since acquiring El Quevar in October 2024, the company drilled about 22,000 metres in its first year, compared with roughly 100,000 metres drilled historically by previous operators over many decades. It expanded mapped and geophysically surveyed coverage of the property from 3% to roughly 10-12%, and expanded the mineralized footprint by an estimated 20-25% through step-out drilling. The company says it was ranked 30th on the TSX Venture 50 list for 2025, citing 371% market cap appreciation and over 208% share price appreciation over that period. Marias also referenced a single drill intercept of 44 metres at 0.57 grams per tonne gold and 0.58% copper, interpreted as a possible porphyry-related feeder, though this is exploratory and unconfirmed.

How much money do they have and what are they spending it on?

Marias stated the company currently has about C$30 million in the treasury. He said the company raised roughly C$60 million in total since inception, with the last financing closed in January 2026. He expects the company could go another year without needing to raise money, but said a financing could happen before the end of 2026 if market conditions improve, or in the first half of 2027 if not. Annual spending is split roughly 90% toward exploration, 4% toward general and administrative costs, and 4% toward marketing and investor relations (about C$2 million per year on marketing). The 2026 drill program target is 40,000 metres with a budget of roughly C$40 million. Drilling cost, including all overhead, was cited at C$700-800 per metre. There is also a roughly C$3 million reclamation-related liability on the books tied to potential future site closure costs, which Marias said had been reduced after the company corrected an earlier misunderstanding of local regulations.

Upcoming catalysts

Technical/Operational: surface sampling and geophysical results expected soon; additional drill results expected through July and August 2026; metallurgical test work results covering the full deposit expected around September 2026; new exploration targets planned for drilling in 2027; updated mineral resource estimate targeted for the first half of 2027, with management aiming for 75-100 million ounces; preliminary economic assessment work referenced for early 2027; economic studies (such as a PEA) referenced as possible by the end of 2028.

Corporate: management said it is looking to bringing in a strategic corporate partner at the equity level, and noted interest from potential offtake counterparties (traders and smelters), though no deal was described as imminent. A financing is anticipated by year-end 2026 or in the first half of 2027 depending on market conditions.

Risks

The company will need to raise additional capital within the next year, which could lead to shareholder dilution depending on market conditions and share price at the time. The metallurgical and marketability claims discussed are based on historical, third-party data from the 2008-2012 period rather than Argenta’s own forthcoming test work, which is due around September 2026 and could change the picture. The CEO also disclosed a recent insider option exercise and sale at 80 cents per share, while the stock currently trades near 45 cents, roughly half that level. As with any early-stage exploration project, resource expansion, metallurgical outcomes, and the timeline to production all remain unproven and subject to change.

Argenta Silver CEO Interview

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